Deliveroo to give employees shares in the company

Cornelia Mascio
Mag 17, 2018

EMPLOYEES at British food courier Deliveroo will become shareholders in the company and receive a share of equity totalling almost £10 million (S$18 million), the firm said, although the programme will not extend to its riders.

The move will see a majority of the company's 2,000 office staff receive an average of £5,000 worth of stock options.

The share options will be offered to all 2,000 staff in 12 markets as well new recruits, the restaurant delivery company said.

"The announcement will apply to all current and future permanent employees".

Workers will be able to cash out if Deliveroo floats its shares or is sold.

Deliveroo, which has its global headquarters in London and operates in 12 markets across the globe, has also recently equipped 35,000 riders with free accident insurance.

Following its last fundraising round the company has raised US$957m (€810m) to date and is valued at over US$2bn (€1.69bn).

However, it stopped short of giving them further benefits because it would risk classifying them as staff.

He said: "Employees at Deliveroo have made the company what it is today and what sets us apart is our huge hunger to win, strong focus and care, and a clear vision for the future".

Mick Rix, GMB National Officer, said: "Deliveroo would not be making profits if it wasn't for the hard graft by its army of riders and delivery colleagues".

The largesse to its permanent staff comes as the Independent Workers Union of Great Britain, a union that represents workers in the gig economy, is aiming to raise £50,000 to fund a court battle against Deliveroo.

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